Is a 10.6% Dividend Yield Reason To Own This Stock?

The "Mad Money" host first addressed a stock, which Michael in South Carolina asked about during Monday's Lightning Round. The caller wanted Cramer's take on PDL BioPharma , a biotechnology name that sports a 10.6 percent dividend yield. After doing some research, Cramer found its main patent expires in 2014 and lacks other intellectual property. For that reason, he thinks PDLI is too risky.

The next question came from Kathy in Orlando, who asked if Koninklijke Philips Electronics is a good play on the switch from incandescent to compact light florescent light bulbs. Cramer thinks it's a good company, but would avoid buying shares on the CLF angle alone. The "Mad Money" host said he made that mistake with Cree , which also makes CLFs.

Michael asked for Cramer's take on PetSmart . Cramer thinks it's a well-run company, but would wait to buy shares on a pullback.

Cramer then took a letter from Mike, who noted utilities tend to do poorly when interest rates rise. Being as the home gamer owns a few utilties, asked Cramer if he should be concerned about rising rates. Cramer said he doesn't see rates rising to a level to where, after tax, people will want to sell utilities.